The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1887-10-20
No. 35.
COPY OF THE PLAN ADOPTED
By the Farmers State Alliance of
Texas, Establishing the Farmers
Alliance Exchange of Texas.
PAW, ~

This corporation shall be known as
The Farmers Alliance Exchange of
Texas.
The object of this corporation is to
negotiate the sale of the cotton and
other products and stock and such
other property, personal, real or mixed,
as may be desired by the members Of
the Farmers State Alliance of Texas;
also, the purchase of such commodi-
ties, machinery and other things as
may be desired also to erect suitable
buildings, store houses and appliances
for conducting such business, and
furnishing the necessary ballroom
and Offices for the officers of the said
Farmers State Alliance and such
other purposes as may be desired by
the said order.
The capital stock of this corporation
shall be $4,000, divided into 25
shares Of S2O,OO0 each, and one-tenth
of one per cent. shall be paid on the
subscription of the stock. The 25
stockholders of this corporation shall
be elected by the Farmers State Alli-
ance of Texas, as follows: At the
present August session of said State
Alliance of 1887, there shall be two
elected from each Congressional dis
trict in the State, and three from the
State at large, and Immediately after
election their names shall be placed in
hat and drawn one at time. The
first nine drawn shall hold office one
year, the next eight drawn shall hold
office for two years, and the last eight
shall hold Office for three years and
the term, of office for each stockholder
shall hereafter be three years, and the
said State Alliance shall, at each regu-
lar annual session, elect stockholders
to fill all vacancies
Each stockhOlder shall hold one
share Of stock in this Association, in
trust for the benefit of the members
of the Farmers State Alliance, and
shall discharge his duties as owner in
trust of said stock to the best inter
ests of his constituents, and turn over
all stock and every privilege accrueing
therefrom to his successor in Office.
The stockholders of this corporation
shall elect from among their number
an executive board of three members
who shall be the board of trustees,
and who shall have the general super
vision and management Of all the
business and shall procure such char
ter or charters from the State of Texas
as may be necessary to carry on the
work and business desired to be done
They shall be governed by such gen.
eral bylaws as the stockholders may
from time to time adopt
In order to raise the capital stock
above entrusted to stockholders for
the benefit of the members of the
Farmers Alliance in the State of
Texas is hereby called upon to vote an
assessment of 81 per member, both
male and female, due and payable Oct.
18th, 1887, and 81 per member, both
male and female, due and payable
Dec. lst, 1887, and those voting in
favor of said proposition shall imme-
diately notify the State Business Agent
of the fact, and the money on such as
sessment. when received, shall be sent
to the secretary of this corporation,
and notice of the remittance sent to
the secretary of the State Alliance.
1t is understood that when as much
as $4,000 has been paid to the secre-
tary, each share of stock will be cred
tied with ten per cent. paid in, and
for each subsequent payment of that
amount, like credit will be made.
Unanimously adopted at regular
session, in Waco, Texas, August II,
1887. EVAN JONES, Pres't.
H. G. MOORE, Sec'y.